[4RE KLR]

Ron,
This is not surprising coming from Bob Toll.

Warren,
If you have any TBI (toll) now would be a great time to dump it. Even though they are down hard, I think the bottom is far lower than today's par value. Executive management has taken roughly $6B in cash out of the company in the last 18 months, sound familiar?

The housing market is only bad for those morons who don't know when to stop building QDH's (quick delivery homes) by the hundreds, or in Toll's case by the thousands.

Listen everyone knows you will get a better built home from a smaller builder. You just have to do your homework and make sure the guy has the experience. I have never understood why people go to volume builders and just buy what is on the shelf, so to speak. Folks with a custom builder you can get what you want, where you want it and for less money. If you think that your getting a better built home by going to the big boys your sadly mistaken. The hiring practices for large builders dictates that they hire people that are new to the industry as their construction managers. I know of an employee within Toll Brothers right now that is a senior project manager running one of the largest communities they have that has never built a single home. They guy is a blooming idiot, he just kissed the right ass and got the job.

Is that who you want building your home?